Canada based renowned investment fund manager 3iQ Corp has managed to list its Bitcoin Fund on the Gibraltar exchange, a move aimed toward expanding its investor’s user base outside its original listing scope in Canada.
The dedicated crypto currency fund, that began trading on the TSX earlier in the month of April, tracks the Bitcoin [BTC] price using an index feed co-developed by a VanEck Europe subsidiary along with the market data provider CryptoCompare.
3iQ already manages 2 private investment funds – 3iQ Bitcoin Trust as well as the 3iQ Global Cryptoasset Fund – that initiated as a personal placement available solely to accredited and institutional investors within Canada.
Within the new filing, the firm hopes to draw in retail investors to at least one of the world’s primary regulated & exchange-traded bitcoin funds on a European regulated exchange. Moreover, if deemed effective, the listing would permit investors who previously purchased 3iQ shares within a private placement to sell their shares within the market.
The exchange-traded product would offer investors who either can’t or won’t purchase the underlying asset with direct exposure to Bitcoin value. The non-redeemable investment fund also aims to realize capital appreciation via a long-term holding strategy.
“Moreover, sovereign wealth funds, pension funds, as well as several other reputable financial institutions that are restricted to purchasing licensed, regulated, leading exchange-listed products, now have access to the world’s only regulated, exchange- being operational within Canada, publicly listed bitcoin fund.
Following an appeal, 3iQ has previously secured the approval from Ontario Securities Commission to offer its Bitcoin fund to Canadian investors.
Attracting blockchain and crypto startups is seen together a way of bolstering Gibraltar’s thriving financial services industry after the self-governing territory, alongside the United kingdom, will leave the EU later this year.
The GSX [Gibraltar Stock Exchange] is additionally working to provide a tokenized securities exchange solution. It also partnered with STO Global-X [STGX], a Singapore-based startup, to offer different marketplaces to tokenize securities & facilitate the digital ownership & trading of physical assets using virtual tokens.